SOURCE: Expesite

Expesite

April 29, 2009 12:00 ET

Expesite Acquires Report Hawk to Seize New Market Opportunities

COLUMBUS, OH--(Marketwire - April 29, 2009) - Expesite, an industry leader in providing online program management solutions to the retail real estate and construction industry, has today announced the acquisition of Report Hawk, a leader in project management and reporting solutions that serve the contractor, subcontractor and construction vendor markets. Expesite's acquisition of Report Hawk has positioned the company to gain share in a construction / real estate market that includes an estimated 800,000 general and specialty trade contractors -- as well as nearly 130,000 architects. By vertically integrating the two SaaS (Software as a Service) offerings, Expesite's solutions portfolio now spans from the largest retail owners to the smallest vendors/contractors -- and everything in between.

Jeff Sopp, CEO of Expesite, sees incredible potential for both new and existing customers. "Report Hawk has done a wonderful job of creating a company focused on the customer with a technology solution that helps contractors and suppliers better communicate with their globally recognized clients. Report Hawk is a great strategic asset to Expesite." Sopp also announced that Brian Gunnoe will continue to lead Report Hawk as President.

Gunnoe, a 12-year veteran of the retail construction industry, is excited by the opportunity to strengthen Report Hawk's brand and offer clients an upgrade path to Expesite's flagship product. "The synergy between Expesite and Report Hawk is astonishing," exclaims Gunnoe. "Together with Expesite, we now have the ability to offer a range of solutions that is as wide as it is deep -- whether it's helping a small contractor deliver weekly status reports on a single project or enabling a multi-billion dollar global retailer to manage all of its real estate and construction programs from end-to-end."

In December of last year, Expesite posted its strongest quarter in the company's 10-year history and closed 2008 with strong growth over the prior year. In addition, the company maintained its standing among Inc. 5000's fastest growing companies in the U.S. for the second year in a row. The company's financial health has made it well-positioned to invest in technologies that extend its reach into all facets of the construction industry.

Report Hawk will operate as its own subsidiary, but plans to relocate all of its employees to Expesite's headquarters in Columbus, Ohio later this month. The move is designed to foster collaboration and create efficiencies across the two companies by using a shared services model for ongoing sales, operational and development support.

Sopp adds, "We've spent the last decade investing in a software platform and client support infrastructure that is second to none -- and we're excited to be able to offer Report Hawk's customers the benefits of those investments."

About Expesite:

Founded in 1999, Expesite is a privately held company headquartered in Columbus, Ohio. Expesite provides a secure project management application for multi-unit construction and real estate development. Over $6 billion in real estate activity moves through the Expesite system. Expesite fosters lasting relationships with some of the world's largest retailers, chain restaurants, banks and commercial real estate developers. Considered a world-class leader in program and project management, Expesite streamlines communication and accelerates project delivery. To learn more about Expesite products and services visit their web site at www.expesite.com.

About Report Hawk:

Founded in 2005, Report Hawk is an affordable pay-as-you-go web-based, collaborative project management tool for contractors, architects and construction managers. The system allows users to track construction projects from pre-construction through warranty stages. Report Hawk enables 24/7 communication with project teams and streamlines the building process to reduce costly errors, increase profits and deliver an exceptional user experience defined as "pure awesomeness." Report Hawk is a subsidiary of Expesite and is headquartered in Columbus, OH. The company supports projects throughout the United States and Canada. For more information please visit www.reporthawk.com.

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